P.M. BRIEFING : Unity Creates W. German Boom
The July 1 German economic union has created the strongest economic boom West Germany has experienced in the past 20 years, the Bundesbank said in a report today.
However, the Bundesbank said high demand for West German goods has caused a severe slump in East Germany. The West German central bank also said its economic analysis for this summer showed that the Mideast crisis and slowing trends in the United States, Great Britain, Sweden, France and Italy eased the pace of the West German economic boom.
But the negative influences “were more than compensated for” by higher domestic demand after the July 1 German economic union, which involved the introduction of the West German currency and economic system in East Germany.
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